Understanding Goods and Service Tax GST-Revised Rates PPT Doc

The Goods and Service Tax (GST) tax was one of the main things that attracted market attention because of its implications for company profits. The government retained a large number of items less 18% tax slab. The government has categorized 1211 elements in several tax slabs. Here is a low point down on the forged tax that would attract the following elements: Full List of Goods and Service Tax GST – Revised Rates

Complete Details About Goods and Service Tax GST

Understanding Goods and Service Tax GST-Revised Rates PPT Doc 1

GST: New rates under the GST. Notified There is an insurance benefit in the case of food products, including fresh meat, chicken, fish, eggs, milk, butter, curd, natural honey, fresh fruits and vegetables, flour , Besan, bread makers and consumers as they are exempt. Services in hotels and accommodation under Rs rental. 1000 also express themselves. Transportation services (railways, air transport) also requested small relevant restraurants were subjected to a 5% catgoría. The oil was dispensed in the first edition of declarations.

Goods and Service Tax GST-Revised Rates

Full List of Goods and Service Tax GST – Revised Rates: GST: Appearals below 1000 are taxed 5% while above are taxed 12%. Footwears below Rs. 500 are taxed @5% and above @ 18%. They are also partial benefitcieries.Packaged food will benefit as packaged food items, skimmed milk powder, branded paneer, frozen vegetables, coffee, tea, spices have been put in 5% basket. Transportation would be cheaper by air and Train as it is put in 5% bracket and Business class Air travel is put under 12% which is below current 15%. Non-AC hotels have also been put in 12% bracket.

Goods and Service Tax GST-Revised Rates

But, the AC hotels that serve liquor, telecom services, IT services, branded garments and financial services will become exensive as they have been put under 18% bracket. This is quite surprising that Financial services have been made expensive, when the government is trying to enhance financial inclusiveness.

5 Star will be chrged 28% and interestingly, Cinema will attract 28%.

The complete and updated list: Goods and Service Tax GST-Revised Rates

Gold and rough diamonds are not inserted in the current box of the slab mass and will be taxed in 3% and 0.25% respectively.

services: Full List of Goods and Service Tax GST – Revised Rates
Transportation services (railways, air transport), small restraurants are in the 5% category because its main entrance is oil that is outside the scope of the GST.